Mid Penn Bancorp, Inc. (NASDAQ:MPB) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price target of $27.00 for the company and are forecasting that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also given Mid Penn Bancorp an industry rank of 169 out of 256 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut Mid Penn Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st.
MPB opened at $24.44 on Tuesday. Mid Penn Bancorp has a 1-year low of $21.51 and a 1-year high of $31.58. The stock’s fifty day simple moving average is $24.61 and its 200 day simple moving average is $24.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The stock has a market cap of $206.13 million, a PE ratio of 11.92 and a beta of 0.57.
Mid Penn Bancorp (NASDAQ:MPB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Mid Penn Bancorp had a net margin of 15.61% and a return on equity of 7.81%. The business had revenue of $20.64 million during the quarter, compared to the consensus estimate of $20.39 million. Equities analysts forecast that Mid Penn Bancorp will post 2.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, August 6th. Mid Penn Bancorp’s payout ratio is 35.12%.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in Mid Penn Bancorp by 2,277.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,257 shares of the financial services provider’s stock worth $81,000 after buying an additional 3,120 shares during the period. JPMorgan Chase & Co. increased its position in Mid Penn Bancorp by 235.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,845 shares of the financial services provider’s stock worth $95,000 after buying an additional 2,698 shares during the period. Bank of America Corp DE increased its position in Mid Penn Bancorp by 34.8% during the 4th quarter. Bank of America Corp DE now owns 8,359 shares of the financial services provider’s stock worth $192,000 after buying an additional 2,156 shares during the period. Context BH Capital Management LP increased its position in Mid Penn Bancorp by 6.0% during the 2nd quarter. Context BH Capital Management LP now owns 8,814 shares of the financial services provider’s stock worth $220,000 after buying an additional 501 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Mid Penn Bancorp by 49.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,303 shares of the financial services provider’s stock worth $407,000 after buying an additional 5,407 shares during the period. Hedge funds and other institutional investors own 17.45% of the company’s stock.
Mid Penn Bancorp Company Profile
Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs.
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